Shares of the e-commerce platform Meesho surged by 5% on Monday morning, reaching a day's high of Rs 243.20. This significant jump follows the strong performance of its 'Mega Blockbuster Sale,' which reported an impressive 75% year-on-year (YoY) growth in orders on its inaugural day. The company observed peak volumes exceeding 75,000 orders per minute within just 15 minutes of the sale's launch.
Meesho Mall and Customer Growth Drive Success
Meesho informed stock exchanges that the number of transacting customers increased by approximately 60% YoY. A major contributor to this success was Meesho Mall, the platform's branded shopping offering, which saw orders grow by more than 200% YoY on the first day of the sale. Notably, customers from Tier 3 and smaller markets nearly tripled, with over one in three shoppers making their first-ever purchase from a Mall brand across more than 1,000 available brands.
Diverse Demand Fuels Festive Shopping Spree
The festive demand extended far beyond traditional apparel, encompassing beauty, home decoration, and puja-related products. Specific product categories experienced remarkable surges: orders for torans and wall hangings increased eightfold, while demand for ear-lobe support patches for heavy earrings rose nearly sevenfold. Rosemary hair care products also saw orders grow more than sixfold, highlighting the diverse purchasing trends during the festive period.
Fashion remained a dominant category, with sarees, kids' clothing sets, and kurta sets topping the list of most-shopped items. Additionally, there was increased demand for festive preparation essentials, including decorative lights, candles, incense, kitchen cleaners, and various puja items.
AI-Led Discovery and Seller Engagement
Personalized recommendations played a crucial role in product discovery, powering around 85% of Day 1 orders. This underscores the growing influence of AI-led discovery in effectively connecting customers with relevant products during high-volume shopping events.
The surge in orders was complemented by heightened seller participation, with the number of transacting sellers rising approximately 63% YoY. Participation from sellers in Tier 4 and smaller markets doubled, and the number of sellers receiving their first-ever order on Day 1 increased by about 43% YoY, indicating broader engagement across the platform. Content Commerce orders also saw substantial growth, increasing by approximately 3.7 times YoY, primarily driven by nano creators from non-metro India.
Meesho emphasized its commitment to making festive shopping accessible across India while empowering sellers, brands, and creators to expand their reach to more customers.